Colorado-Real-Estate-Journal_408466

July 3-16, 2024 - Page 11 www.crej.com Industrial by Avalon Jacka BROOMFIELD – A Colorado- based provider of space mission solutions will move to a new state- of-the-art facility. MMA Design leased 43,000 square feet of modern research and development, engineering and manufacturing space in Base- line Innovation District at 1755 W. 160th Ave. The company will begin moving in at the end of this year, following tenant improve- ments by general contractor Murray & Stafford and architect Ware Malcomb. MMA Design anticipates starting operations in January 2025. Jim Bolt and Jer- emy Kroner of CBRE represented landlord McWhinney in the direct lease transaction. “Our move to Baseline repre- sents a significant investment in our business and in giving our teams the tools and space they need to keep innovating,” said Mitch Wiens, MMA Design Presi- dent and CEO. “Working seam- lessly alongside McWhinney’s fully integrated team, we will be able to create a truly turnkey space that suits the needs of our grow- ing business. Our goal is always to provide our customers with the best possible solutions for their space missions, and our expansion into this new facility will allow us to continue to do just that.” The new facility more than doubles the company’s foot- print, enabling MMA to expand its manufacturing and produc- tion operations and provide even greater capabilities to its govern- ment and commercial custom- ers, a statement from the com- pany noted. The facility features a research and development lab; assembly, integration and test (including clean) areas; engineer- ing work areas; an integrated machine shop; meeting rooms; common areas; and recreation space, including a game room and gym. The new space will support planned enhancements of MMA Design’s key capabilities through the addition of more environ- mental testing equipment, increased capacity in the machine shop, robust composites manu- facturing, ample manufacturing space for high-volume produc- tion, and an expanded research and development lab for more additive manufacturing. MMA Design was attracted to Baseline, a master planned com- munity owned and developed by McWhinney, due to the STEM- focused ethos of the community that aligns with the company’s culture, a statement from the com- pany said. Baseline Innovation District is a flexible industrial cam- pus designed to support users in advanced manufacturing, inven- tion, and scientific and technical discovery. Upon completion, the community is expected to include residential, dining, retail, office, industrial and medical services, alongside miles of trails and bik- ing paths. “MMA is a company that is truly moving us forward – both on Earth and beyond – and we’re excited to welcome them as anoth- er key tenant at Baseline’s Innova- tion District,” said McWhinney’s Clyde Wood, vice president of commercial and mixed-use devel- opment in Northern Colorado. “Baseline and the innovation dis- trict were designed for this very purpose: to provide places for innovative people to grow and invest in their big ideas.” Founded in Boulder in 2007, MMA Design is a leading pro- vider of space solar arrays, radio frequency and communication antennas, and other innovative solutions for space missions and the small-satellite market. The company employs 50 cross-disci- plinary team members. s MMA Design doubles footprint with new Broomfield facility by Avalon Jacka COLORADO SPRINGS – A 48,000-square foot building fea- turing industrial, office and showroom space traded hands for $6.3 million. MedRide LLC acquired the property, situated on 3.7 acres at 6250 Corporate Drive, from Cor- porate Drive Properties LLC in May. MedRide will operate the property as an owner-user for its nonemergency medical transpor- tation business. Built in 2000, the building includes dock-high and ground- level loading doors, dual points of access, traffic circulation around the building, 18-foot clear height throughout the warehouse space, and access to the interstate from either northbound or south- bound travel. The property is vis- ible from Interstate 25 between East Woodmen Road and South Rockrimmon Boulevard. The asset was a build-to-suit for Arlun Inc., a flooring company. The building’s design divides the space into 50% office and show- room space, and 50% warehouse space. The buyer was represented by Jeremy Reeves of Colliers. NAI Highland’s Randy Dowis Churchill, Megan Mechikoff and John Benzen marketed the property on behalf of the sell- er. The property had been put under contract once before clos- ing, but that contract failed, and as a result, the property went through a “major price reduc- tion,” Churchill said. “We went out at a fairly high price initially, not knowing what the market would bear on the first-time offer property with an irreplaceable location along the interstate,” Churchill said. “After we reduced the price, we ended up having three offers, and we had to make a decision on which buyer we wanted to go with, because two were both users and the other was a charter school. The seller had put them in a com- petitive bid process, and ultimate- ly decided that the MedRide folks could close sooner and that was very appealing to the seller.” MedRide is expected to use at least part of the office as a call cen- ter, Mechikoff said, though she was unsure of its exact plans for the space. The company’s Colora- do operations are based in Colo- rado Springs, with satellite offices in Pueblo West, Highlands Ranch and Grand Junction, according to its website. Other News n METRO DENVER – Russell Gruber of Gruber Commercial Real Estate Inc. facilitated multi- ple industrial deals in the Denver metro area. Montrose Environmental Group Inc. signed a long- term lease for 16,950 square feet at 6270 Joyce Drive in Arvada. The tenant is an environmental services provider offering mea- surement and analytical services, and environmental resiliency and sustainability solutions, accord- ing to its website. Gruber repre- sented the landlord, Gamel Hold- ings LLC. Bryan Fry of Cushman & Wakefield r epresented the ten- ant. Luxe Offroad leased a 14,500-sf building and yard space at 48 E. 56th Ave. in Denver. The compa- ny builds custom jeeps and trucks and plans to open by early July, according to its website. Gruber facilitated the transaction directly between the tenant and the land- lord, Durland Development. Gruber brokered the off-mar- ket sale of 4333 N. Cherokee St. in Denver for $2.48 million. The 6,500-sf building will be occupied by the buyers. The property was sold by 4333 Cherokee LLC and bought by 4333 Enterprise LLC in March, according to Denver County public records. Gruber represented 2200 S. Fox St LLC in its purchase of 2200 S. Fox St. in Denver for $740,000. The 3,136-sf building is fully leased and has a fenced yard. The seller, which is listed as Michael Lorentz on Denver County pub- lic records, was represented by Riggs Winz of Colliers. n DENVER – A pair of indus- trial buildings totaling 12,600 sf sold for $2.33 million. Stonebrook Realty Group acquired the 0.84-acre property, located at 4078-4080 Globeville Road, from 4080 Globeville LLC in June. The buyer intends to occupy the property with its general contracting company. The buyer was drawn to property due to its central location, the fenced yard and the ability to operate out of two build- ings. Tanner Digby of Digby Com- mercial Advi- sors represented the seller. James McGill and Chris Schultz of JLL represented the buyer. n CENTENNIAL – An indus- trial building near the Denver Tech Center has traded hands. Elliott Partners Ltd. pur- chased 15152 E. Fremont Drive in Centennial from 15152 E. Fremont LLC. The 12,100-sf property sold for $2.9 million. The property includes dock- high and drive-in doors, as well as recent updates, a LoopNet listing said. Newmark’s Mike Viehmann represented the buyer, and the seller was represented by Colliers. n DENVER – A 10,451-sf indus- trial property near the intersection of Interstate 70 and Quebec Street sold for $2.45 million. The single-tenant asset, located on 2.9 acres at 7499 E. 41st Ave. features 18-foot clear height, metal construction, two grade-level doors, one truck well and 25 park- ing spaces. The property also has ample industrial outdoor storage space, with a building coverage ratio of 8%. The building is leased to Traffic Management Inc., a util- ity contractor. Zoned I-MX-5, the property can accommodate future develop- ment. The property is a 15-minute drive from downtown Denver and a 20-minute drive to Denver International Airport. Alyssa Tomback and Thimy Moraitis of Marcus & Millichap had the exclusive listing to mar- ket the property on behalf of the seller, a private investor listed as Kelly Supply Co. on Denver County public records. The team received multiple offers due to the amount of yard space and the location and went under contract within the first week of market- ing, a statement from Marcus & Millichap noted. s MedRide acquires 48,000-sf building along Interstate 25 sales tax rate. The site provides quick proximity to Interstates 25, 70, 76 and 270. Foundation Building Materials plans to move in in November when the current tenant, Lennox Stores, moves out. Lennox Stores outgrew the space and will be moving to a new space approxi- mately double the square footage nearby, Wafer Jr. said. “When we put the space on the market, Foundation Building Materials right away jumped all over it,” Wafer Jr. said. “They just thought it was the perfect size, and it already came move- in ready with the type of office and showroom buildout they desired. We were able to put together this lease for FBM to take the space immediately after Lennox's lease expires. We were able to get the deal done with no tenant improvements and no downtime, so it’s definitely a big win for ownership.” Newmark facilitated the sale of the77-acreCrossroadsCommerce Park site to Trammell Crow in 2015. Trammell Crow developed the land into a 10-building park with three speculative buildings and seven built-to-suit buildings. Principal Real Estate was a capital partner in the project and has since taken over as landlord in Buildings 1, 2 and 3. The original lease-up occurred between 2015 and 2019, and the project is now phasing into the next round of renewals and second-generation leases, Wafer Jr. said. Wafer, Wafer Jr. and Mike Viehmann of Newmark recently brokered another lease within the park on behalf of the park’s ownership. Senske Landscaping leased Building 9, located at 459 E. 51st Ave., an approximately 18,000-sf Class A building featur- ing more than 7,000 sf of office space, lots of parking, 18-foot clear height, three drive-in doors, ESFR sprinklers, LED lights and a fenced, paved yard which Senske will use to store vehicles and landscaping materials. The Newmark team was also able to lease this property with zero downtime and minimal tenant improvements between leases, which “speaks to the demand for quality space at this A-plus loca- tion,” Wafer Jr. said. JLL’s Chris Schultz represented the tenant in the lease. s Foundation Continued from Page 10 Russell Gruber Tanner Digby